The Minister of Finance went on to elaborate in a press release that, according to Standard and Poor's report, the budget policies were indeed cautious and economic growth steady.
The report further stated that it was the finance sector that contributed most to the Grand Duchy's general well-being, and would continue to do so in the future. In light of Brexit, Luxembourg might even be able to attract more business.
For the 2019-2022 period, the rating agency also predicts GDP growth rates to be comparable to those experienced in recent years. They also expect the budget surplus and average public debt of 20% of GDP to be maintained.
A final positive aspect highlighted by S&P was the Grand Duchy's continued investment in research, education and innovation.
